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Europium Market

Market Insights on Europium covering sales outlook, demand forecast & up-to-date key trends

Europium Market By Application (Permanent Magnets, Catalysts, Glass Polishing, Phosphors, Ceramics, Metal Alloys, Glass Additives), End-Use (Consumer Electronics, Lighting, Semiconductors, Automotive, Healthcare, Nuclear Labs, Metallurgy, Anti-Counterfeiting) & Region - Forecast 2022 - 2032

Europium Market Overview

The global europium market was valued at over US$ 210 Million as of 2021, and is expected to reach US$ 225 Million by 2022-end. Until 2032, the market is projected to flourish at a CAGR of 5.5% to reach US$ 385 Million.

Report Attribute

Details

Estimated Base Year Value (2021)

US$ 210 Million

Expected Market Value (2022)

US$ 225 Million

Anticipated Forecast Value (2032)

US$ 385 Million

Projected Growth Rate (2022-2032)

5.5% CAGR

Europium is a rare earth metal that oxidizes readily in presence of air and water. It is generally present in oxide form and has applications in automobiles, catalysts, consumer electronics, flat panel displays, metallurgy, and fluorescent lamps and as a dopant of glass in lasers and optoelectronic devices.

Globally, technical development in the field of earth metal nano-crystals, upsurge in the demand for flat panel displays and LEDs, and swelling civil infrastructure are the prime growth drivers of the global europium market. Additionally, the rise in the espousal of europium for newer end-use applications, and developing economies such as China, India, and others will create a plethora of growth opportunities for the global europium market.

The rapidly growing demand for smartphones, wearables, gears, and smart televisions in developing economies worldwide is likely to propel the consumer electronics industry, which, in turn, is anticipated to benefit the demand for the product over the forecast years.

Which are Some Prominent Drivers Spearheading Europium Market Growth?

Europium nano-crystals are being used in the LEDs as a phosphor that emits a wide range of the spectrum. The shift from traditional lighting to solid-state lighting systems in displays is expected to fuel the market for flat panel displays and LEDs. Thereby, the demand for Europium is expected to grow simultaneously throughout the forecast period.

The rapidly-growing consumer electronics industry across the globe, due to factors such as enhanced internet connectivity, technological advancements, and growing consumer expenditure on premium electronics, is likely to have significant impacts on the overall industry growth.

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What are the Challenges Faced by the Europium Industry?

The supply issues and lack of refining, alloying and fabricating technologies for europium are expected to hamper the growth of this market.

Due to several factors such as limited supply, lack of refining, alloying, fabricating technologies, and ongoing recession in the rare earth industry, the stock price has been extremely unpredictable. Europium production is principally dependent on the production of other earth elements since they exist along with those metals. This trend has a direct trend on the price of the product.

Why is Asia-Pacific Emerging as an Opportunistic Europium Market?

Growing demand from flat panel displays and LEDs in the Asia Pacific market is expected to drive the market. Asia Pacific region was the largest consumer of europium and its derivative products.

China contributes the highest for the consumption of this metal owing to increasing population, improving living standards, and disposable income. Growing demand from Japan, Korea, and China for consumer electronics is fueling the market in this region. China is the largest manufacturer of europium and its derivatives.

However, export restrictions and increasing local demand have been causing supply issues. The Asia Pacific is followed by North America owing to demand from LEDs and consumer electronics industries. Decreased exports from China caused the development of new exploration and production sites in this region to fulfill the demand.

Nikhil Kaitwade
Principal Consultant
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How is Europe Contributing to the Growth of the Europium Market?

Europium is used in manufacturing superconducting materials. With the discovery of high-temperature superconductors (HTS) in the late eighties, the vision of using these materials in effective and advanced technological applications became very prominent in the European region. 

Europe was the largest region in the superconductors market in 2020. Owing to the increasing demand for energy in the region, the demand for europium is rising rapidly. Researchers are working incessantly to increase the efficiency and potency of energy appliances like wind turbines, thereby adding more value to the sales revenue of the europium market.

Why the United States Holds a Significant Share in the Europium Market?

The North American segment is likely to observe sluggish growth on account of the current downturn in the rare earth industry. Further, the U.S. is a net importer of elements and related products due to the excessive market prices and lack of production in the province. In the future, the region is likely to witness steady growth on account of growing production in Canada.

There has been an immense energy requirement in the United States, thereby the prominent companies are making advancements in technology by using Europium. This is one of the prominent market growth drivers for Europium in the region.

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Market Competition

Some of the key participants present in the global demand of the europium market include Avalon Rare Metals Inc., Molycorp, Lynas, Minmetals Corporation, Baotou Steel Rare-Earth, Xiamen Tungsten, Great Western Minerals Group Ltd., among others.

Europium Market- Report Scope

Report Attribute

Details

Growth Rate

CAGR of 5.5% from 2022 to 2032

Base Year for Estimation

2021

Historical Data

2015-2020

Forecast Period

2022-2032

Quantitative Units

Revenue in USD Billion, Volume in Kilotons and CAGR from 2022-2032

Report Coverage

Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis

Segments Covered

  • End-use industries
  • Application
  • Region

Regions Covered

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • APEJ
  • Japan
  • Middle East and Africa

Key Countries Profiled

  • U.S
  • Canada
  • Brazil
  • Argentina
  • Germany
  • U.K
  • France
  • Spain
  • Italy
  • Nordics
  • BENELUX
  • Australia & New Zealand
  • China
  • India
  • ASEAN
  • GCC
  • South Africa

Key Companies Profiled

  • Avalon Rare Metals Inc.
  • Molycorp
  • Lynas
  • Minmetals Corporation
  • Baotou Steel Rare-Earth
  • Xiamen Tungsten
  • Great Western Minerals Group Ltd.

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Available Upon Request

Key Segments Covered in the Europium Market Research Report

Application:

  • Permanent Magnets
  • Catalysts
  • Glass Polishing
  • Phosphors
  • Ceramics
  • Metal Alloys
  • Glass Additives
  • Others

End Use:

  • Consumer Electronics
  • Lighting
  • Semiconductors
  • Automotive
  • Healthcare
  • Nuclear Labs
  • Metallurgy
  • Anti-Counterfeiting
  • Others

Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • APEJ
  • Japan
  • Middle East & Africa

Frequently Asked Questions

Until 2032, Future Market Insights expects the europium industry to surge at a 5.5% CAGR

The United States is expected to be the key shareholder, followed by Asia Pacific in the europium market

Avalon Rare Metals Inc., Molycorp, Lynas, Minmetals Corporation, Baotou Steel Rare-Earth, Xiamen Tungsten and Great Western Minerals Group Ltd. are some key europium manufacturers

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Nikhil Kaitwade
Principal Consultant
LinkedIn
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